Norwegian oil fund opts for Citi as global custodian

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first_imgOkan Pekin, global head of investor services for Citi, said the bank was well positioned to anticipate Norges Bank’s needs through its global presence and network.Norges Bank, which manages the funds’ global and national investments, recently announced losses from its emerging market equity portfolios.The fund, which on average owns 1.5% of listed companies and is the world’s largest single investor, also increased its holdings in Brazilian, Turkish and Mexican government bonds. Norges Bank Investment Management, manager of Norway’s Government Pension Fund Global, has selected Citi to provide it with global custody and securities lending services.The manager, which controls more than $850bn (€610bn) in global assets, said it selected Citi after a detailed evaluation of global custodians, and appreciated its sub-custodian network, which would allow it to maintain its global mandates.The bank is expected to provide the fund with solutions across its investment chain, including prime finance and agency, securities lending, futures, OTC clearing and collateral management, custody and global fund services.Age Bakker, COO at the fund, said: “Through Citi’s proprietary sub-custodian network and investment in technology, it is enabled to deliver custody services in an integrated, efficient and transparent manner.”last_img read more

FIFA and UEFA Delegation met with Representatives of Bosnian Football Federation

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first_imgA meeting of FIFA representatives (Maria Sofia Malizia Oursi) and UEFA (Jacques Bondallaz) was held today in Sarajevo with the Football Federation of Bosnia-Herzegovina’s representatives, general secretary Adnan Džemidžić, member of the FF BH Legal Committee Enes Hasić and Football Association of Republika Srpska (RS) Regulatory Commission Igor Ostojić.Many issues related to the work of the FF BH were discussed, with particular emphasis on the steps taken to conduct the scheduling and holding of elections at all organizational levels. It is concluded that both football associations would continue to monitor the FF BH work activities in all segments of its work, and would also be a strong support in future projects. In the forthcoming period, it is necessary to make quality preparations for holding elections at all organizational levels operating within the FF BH, and according to the previously determined timetable for holding sessions of assemblies of all levels of organization. It is necessary to take all steps to ensure transparent monitoring and democratic conduct of electoral processes.At the end of the visit, Maria Sofia Malizia Oursi and Jacques Bondallaz expressed their undisputed satisfaction with the visit to the FF BH headquarters, praising the work of the Federation as a whole, with an emphasis on very professional cooperation with umbrella associations.last_img read more